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The Dixie Group Announces Estimated Impact of Tax Cut and Jobs Act of 2017
The lowering of the US corporate income tax rate and changes to the income tax rules, including the revised treatment of net operating losses, requires revaluation of the company’s deferred tax assets and liabilities. The ultimate impact of the change in the US corporate income tax rate is subject to a number of complex provisions in the legislation which the Company is reviewing. The current estimated impact of the Tax Cut and Jobs Act of 2017 is a non-cash charge to the income statement of around
Statements in this news release, which relate to the future, are subject to risk factors and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements. Such factors include the possibility that negotiations will not be successful, that contract terms will not be as expected, and that levels of demand for the products produced by the Company will change. Other factors that could affect the Company's results include, but are not limited to, raw material and transportation costs related to petroleum prices, the cost and availability of capital, and general economic and competitive conditions related to the Company's business. Issues related to the availability and price of energy may adversely affect the Company's operations. Additional information regarding these and other risk factors and uncertainties may be found in the Company's filings with the
Chief Financial Officer
Source: The Dixie Group, Inc.